Deputy Commissioner of Income Tax Circle-6(2)(1), BAngalore V. M/s Karle Properties , BAngalore

MA 06/BANG/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 6587 (ITAT-BANGALORE)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 02-08-2019
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 11-01-2019
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE- PRESIDENT AND SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER M.P. NO. 06/BANG/2019 (IN I TA NO. 2 253 /BANG/2018 ) ASSESSMENT YEAR : 20 1 4 - 1 5 THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 6 (2) (1), BANGALORE. VS. M/S. KARLE PROPERTIES, NO. 151, INDUSTRIAL SUBURB, YESWANTHPUR, BANGALORE 560 022. PAN: AABFK1537B APPELLANT RESPONDENT ASSESSEE BY : SMT. SUMAN LUNKAR, CA REVENUE BY : DR. P.V. PRADEEP KUMAR, ADDL. CIT (DR) DATE OF HEARING : 02 .0 8 .2019 DATE OF PRONOUNCEMENT : 02 .0 8 .2019 O R D E R PER SHRI A.K. GARODIA, ACCOUNTANT MEMBER THIS M.P. IS FILED BY THE REVENUE ON 11.01.2019 BY STATING THAT THERE ARE CERTAIN APPARENT MISTAKES IN THE IMPUGNED TRIBUNAL ORDER DATED 03.08.2018. 2. IN COURSE OF HEARING OF THE M.P., IT WAS SUBMITTED BY LD. DR OF REVENUE THAT THIS APPEAL OF THE REVENUE WAS DISMISSED BY THE TRIBUNAL ON THIS BASIS THAT THE TAX EFFECT IN THIS APPEAL IS BELOW RS. 20 LAKHS. HE SUBMITTED THAT AS PER THE ASSESSMENT ORDER AVAILABLE ON RECORD, THE RETURNED INCOME WAS AT A LOSS 1,03,92,492/- AND THE ADDITION WAS MADE BY THE AO OF RS. 1,09,49,822/- AND THE ASSESSED INCOME WAS POSITIVE INCOME OF RS. 5,57,330/-. HE SUBMITTED THAT FOR THE PURPOSE OF COMPUTING TAX EFFECT, THE AMOUNT OF ADDITION MADE BY THE AO AND DELETED BY LD. CIT(A) SHOULD BE CONSIDERED WHICH IS 1,09,49,822/- AND THEREFORE, THE TAX EFFECT IN THIS CASE IS 37,21,844/- WHICH IS MORE THAN RS. 20 LAKHS AND HENCE, THIS TRIBUNAL ORDER SHOULD BE RECALLED FOR A DECISION ON MERIT. THE LD. AR M.P. NO. 06/BANG/2019 (IN ITA NO. 2253/BANG/2018) PAGE 2 OF 2 OF ASSESSEE HAD NOTHING TO SAY AND HENCE, WE RECALL THIS TRIBUNAL ORDER AND FIX THIS APPEAL FOR HEARING ON 26.11.2019. SINCE THE DATE OF HEARING IS PRONOUNCED IN THE OPEN COURT, NO SEPARATE NOTICE OF HEARING IS REQUIRED TO BE ISSUED. 3. IN THE RESULT, THE M.P. FILED BY THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- (N.V. VASUDEVAN) (ARUN KUMAR GARODIA) VICE-PRESIDENT ACCOUNTANT MEMBER BANGALORE, DATED, THE 02 ND AUGUST, 2019. /MS/ COPY TO: 1. APPELLANT 4. CIT(A) 2. RESPONDENT 5. DR, ITAT, BANGALORE 3. CIT 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.